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Capital Gain


CA KAMAL MADAN (CHARTERED ACCOUNTANT)     04 August 2020

CA KAMAL MADAN
CHARTERED ACCOUNTANT 
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Plot sold on 23/05/2019 and on that there is a capital gain of 15 lacs ,can we get exemption under 54EC if we make investment now?

avater

Sagar Patel (Tax and Business Consultant)     04 August 2020

Sagar Patel
Tax and Business Consultant 
 807 likes  8837 points

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If Plot sold on 23/05/2019 and on that there is a capital gain of 15 lacs, than to get exemption under 54EC you are required to make investment in notified Capital gain bond within 6 month from date of sale, which is already Passed.

So, now you can not get exemption by making investment in bond.

avater

sabyasachi mukherjee   05 August 2020

sabyasachi mukherjee

 140 likes  3871 points

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There are more pertinent points...
Your capital gain is short term or long term.
You can claim exemption under Sec 54 EC upto a limit of Rs. 50 lacs within six months from the date of sale.

avater

Ravi SADhiyan (CA Final)     05 August 2020

Ravi SADhiyan
CA Final 
 265 likes  4405 points

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Originally posted by : sabyasachi mukherjee
There are more pertinent points...Your capital gain is short term or long term.You can claim exemption under Sec 54 EC upto a limit of Rs. 50 lacs within six months from the date of sale.

I agree with @ Mukherjee Ji


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